Story ID: 
JetSafe Launches Vision Jet-based Shareowner Program
By: Matt Thurber
Caption: Aircraft will be based at primary service areas throughout the U.S.
Word Count: 421
Charter operator JetSafe has launched an aircraft ownership and membership program centered on the single-engine Cirrus SF50 Vision Jet. While customers will be able to buy shares in Vision Jets, JetSafe will operate the aircraft under its Part 135 certificate instead of Part 91K fractional-share regulations.
Jets will be positioned at regional primary service areas, with the first in the Southeast U.S. Each primary service area will cover 700 nm, a reasonable nonstop distance for a Vision Jet carrying passengers. Shareowners will be able to use each other’s Vision Jets, similar to a fractional-share operation. For longer trips or large groups, JetSafe can arrange supplemental lift from vetted charter operator partners.
Shares are available in 20% or 10% increments, starting at $275,000 for a 10% share. Shared Visions will use preowned Vision Jets, starting with one jet that JetSafe is now offering to shared-ownership buyers. The program will also offer memberships for nonshareowners, who will be able to buy 35-hour annual block-time contracts.
The ownership contracts are for three years, according to JetSafe president Kyle Hankinson, with an early termination provision after one year. Owners will be able to sell their shares based on prevailing market prices and based on their amount of share interest.
Shared Visions monthly management fees are $3,500 for the first 10% share and $2,500 for each additional 10% ownership interest. Shareowners will be compensated when their Vision Jet is used for a retail charter flight, at $100 per hour per 10% share.
All Vision Jets in the Shared Visions program will be enrolled in manufacturer airframe, engine, and avionics maintenance programs and serviced by Cirrus authorized service centers.
“The Shared Visions program satisfies a market need for low-cost regional shared ownership and membership solutions,” said Hankinson. “Our program is perfect for couples looking for a quick getaway or for regional corporate travelers seeking a better alternative to traditional charter or airlines.”
The reason for operating under Part 135 is that it enables the company to retain full operational control of every flight, according to JetSafe. “This allows program participants to benefit from a lower risk profile, without the liability exposure that comes with direct operational responsibility, a distinction emphasized by the FAA in Advisory Circular 91-84. Operating under 135 rules also ensures the highest safety standards and oversight by the FAA.”
JetSafe, which is based at Rutherford County Airport (KFQD) in North Carolina, was the first Part 135 operator to receive FAA approval to place a Vision Jet into charter service.